Global Markets: Stocks, oil rally on U.S. jobs data, Korea news

NEW YORK (Reuters) - Stock markets across the globe rose the most in two weeks on Friday after U.S. job growth posted a sharp, unexpected increase, while a planned meeting between U.S. President Donald Trump and North Korea’s Kim Jong Un gave crude oil a further boost.

FILE PHOTO: A man shelters under an umbrella as he walks past the London Stock Exchange in London, Britain August 24, 2015. REUTERS/Suzanne Plunkett

The yen fell broadly after the Bank of Japan stuck to its dovish policy stance and as Kim’s pledge to refrain from further nuclear or missile tests during the proposed talks buoyed investor sentiment.

But the dollar was otherwise little changed despite the U.S. economy having added the largest number of jobs in more than 1-1/2 years in February, as slowing wage gains indicated only a gradual increase in inflation this year.

Wall Street led global equity gains as the U.S. labor data landed in a sweet spot for stock investors.

“You got sort of a Goldilocks report with stronger employment coupled with modest wage growth, but not enough that it forces the (Federal Reserve) to act more rapidly than they otherwise would,” said Scott Clemons, chief investment strategist at Brown Brothers Harriman in New York.